On Friday, shares of Teva Pharmaceuticals Industries (TEVA - Free Report) are plunging, down almost 7.7% in late-afternoon trading after the company announced weaker-than-expected 2017 guidance.
The Israel-based company now expects earnings per share in the range of $4.90 and $5.30 for fiscal 2017, missing estimates of $5.41 per share. Teva expects revenues to come in between $23.8 billion and $24.5 billion for the year, also mission estimates of $24.8 billion.
Last year “was a transition year for Teva," said CEO and president Erez Vigodman in a statement. “The entire health care sector has faced significant headwinds, and we have not been immune.”
TEVA had a rough 2016, losing over 42% over the last one year. The company is currently a Zacks Rank #4 (Sell).
Teva specializes in developing, manufacturing, and marketing generic pharmaceuticals. Key therapeutic focus areas include: analgesic, anti-infective, cardiovascular, CNS, dermatological, and anti-inflammatory.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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On Friday, shares of Teva Pharmaceuticals Industries (TEVA - Free Report) are plunging, down almost 7.7% in late-afternoon trading after the company announced weaker-than-expected 2017 guidance.
The Israel-based company now expects earnings per share in the range of $4.90 and $5.30 for fiscal 2017, missing estimates of $5.41 per share. Teva expects revenues to come in between $23.8 billion and $24.5 billion for the year, also mission estimates of $24.8 billion.
Last year “was a transition year for Teva," said CEO and president Erez Vigodman in a statement. “The entire health care sector has faced significant headwinds, and we have not been immune.”
TEVA had a rough 2016, losing over 42% over the last one year. The company is currently a Zacks Rank #4 (Sell).
Teva specializes in developing, manufacturing, and marketing generic pharmaceuticals. Key therapeutic focus areas include: analgesic, anti-infective, cardiovascular, CNS, dermatological, and anti-inflammatory.
Interested in the other top stories of the week? Listen to Zacks Friday Finish Line to catch up on the week’s financial and investment news.
Which Stocks are Zacks Experts Talking About?
Stocks in today's headlines may be tempting buys, but how would you like a sneak peek at the stocks Zacks experts recommend? Starting today, for the next month, you can follow all of Zacks' private buys and sells in real time. You can track value and momentum stocks, ETFs, stocks under $10, options moves, insider trades, and stocks set to report positive earnings surprises (we've called them with 80%+ accuracy). Click here for all Zacks trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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